New firm start ups at record highs

The number of newly registered Swedish companies increased by almost 30 percent in November, according to a new report published by financia software firm Visma based on figures from the Swedish Companies Registration Office (Bolagsverket).

New firm start ups at record highs

6,440 new companies were established in the country, up from 4,996 in the corresponding period of 2009. Since the beginning of the year, the rate of new start ups has increased by 16.9 percent across the country.

Limited companies (aktiebolag) account for the largest part of the increase – up 73.3 percent in November and by 75 percent since the government halved the 100,000 kronor ($14,330) capital investment requirement on April 1st.

Over the same period new registrations of sole traders (enskild firma), trading companies (handelsbolag) and limited partnerships (kommanditbolag) meanwhile declined by 10, 14 and 21 percent respectively.

“That limited companies have become the first choice as companies for many who start their own firm is explained in the halving of the share capital in the spring,” said Lars Fredell at Visma in a statement.

“This is a clear example of a rule change which has helped those who want to run their own business, as a limited company exposes an owner to less private financial risk than other kinds of firms.”

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Sweden to give long-term boost to research

The government has announced that it will put four billion kronor ($605 million) into research and innovation in a long-term effort to secure Sweden’s place among the world's top nations for research.

Sweden to give long-term boost to research

The investment is part of a three year process in which 11.5 billion kronor will be invested, with gradually increasing installments from 2013 until the full four billion kronor will come into effect in 2016.

“This is a research contribution at a historically high level. We’re reaching levels that we’ve never been at in Sweden,” said Education Minister Jan Björklund to the TT news agency.

“We hope the investment into research and innovation with provide the footing for Sweden to be strong in the future. This lays the foundation for new jobs,” said Prime Minister Fredrik Reinfeldt.

A large part of the investment will go towards high schools and universities, and also to “Life Science” – a programme for medical research.

“The focus with Life Science is about how we can be healthier and live longer. It’s about preventing and curing Alzheimer’s, Parkinson’s, cancer and stroke,” said Björklund.

Uppsala University also welcomes the government’s decision.

“It’s great that the government, despite the strained global economy, chooses prioritize research. These investments are also largely in line with our own priorities, which is of course encouraging,” said university head Eva Åkesson in a statement.

TT/The Local/og